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CORONADO GLOBAL RESOURCES INC. — Capital/Financing Update 2018
Oct 21, 2018
64707_rns_2018-10-21_6f977fd9-6799-4850-a259-8635d9f1ca58.pdf
Capital/Financing Update
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Market Announcement
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22 October 2018
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Coronado Global Resources Inc (ASX: CRN) – Admission and Commencement of Official Quotation – Conditional Trading and Deferred Settlement Trading
Description
It is anticipated that Coronado Global Resources Inc (‘CRN’) will be admitted to the Official List of ASX Limited (‘ASX’) on the morning of Tuesday, 23 October 2018.
Official quotation of CRN’s ordinary fully paid CDIs is expected to commence at 12:00 PM (AEDT) on Tuesday, 23 October 2018 on a conditional and deferred settlement basis .
Every 10 CDIs will represent a fully paid ordinary share of common stock in CRN.
Under CRN’s prospectus dated 24 September 2018 (the ‘Prospectus’), CRN raised $774 million by the issue of 166,516,920 CDIs at an issue price of $4.00 per CDI, and the sale of 26,918,964 CDIs by Coronado Group LLC at a sale price of $4.00 per CDI.
Quotation information
| Quoted Securities: | 966,516,920 |
|---|---|
| ASX Code: | CRN |
| Time: | 12:00 PM (AEDT) |
| Date: | Tuesday, 23 October 2018 |
| ASX Trade Abbreviation: | CORONADO |
| ISIN: | AU0000026122 |
| Home Branch: | Sydney |
| Industry Classification: | Mining |
| Registered Office: | Address: Level 31, Central Plaza One, 345 Queen Street (GPO Box 51) |
| Brisbane QLD 4000 | |
| Phone: +61 07 3031 7777 | |
| Email: [email protected] | |
| Website: https://coronadocoal.com/ | |
| Company Secretary: | Richard Rose |
| Australian Share Registry: | Computershare Investor Services Pty Limited |
| Address: Level 4, 60 Carrington St, Sydney NSW 2001 | |
| Phone: +61 02 8234 5000 | |
| US Share Registry | Computershare Trust Company N.A |
| Address: 250 Royall Street, Canton, Massachusetts, 02021 |
Market Announcement 1/3 ASX Customer Service Centre 131 279 | asx.com.au
22 October 2018 ASX Limited
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| Phone: +1 781 575 2000 | |
|---|---|
| Website:www.investorcentre.com/contactus | |
| Balance Date: | 31 December |
| CHESS: | Participating, and CRN will also operate an issuer sponsored sub-register |
| Place of Incorporation: | State of Delaware, United States of America |
| Dividend Policy: | See section 4.17 and 11.3 of CRN ‘s Prospectus |
| Activities: | CRN is a global producer, marketer and exporter of metallurgical coals via |
| its controlled entities and owns a portfolio of operating mines located in | |
| Queensland, Australia and in the states of Virginia and West Virginia in the | |
| U.S. | |
| Lead Manager: | Joint lead managers are Goldman Sachs Australia Pty Ltd, UBS AG, Credit |
| Suisse (Australia Limited) and Bell Potter Securities Limited. | |
| Underwriter: | Offer is not underwritten. |
| ASX Restricted Securities: | None. |
| Other Securities Not Quoted: | None. |
Conditional and deferred settlement trading
CRN has requested that a conditional trading market be provided pursuant to ASX Operating Rule 3330. The conditions for the conditional market specified by CRN are (i) settlement occurring under the Offer Management Agreement (as defined in the Prospectus) and (ii) the issue or transfer of CDI units to successful applicants under the offer.
In accordance with ASX Operating Rule 3330, ASX has agreed to provide a conditional market in CRN’s CDIs. CRN’s CDIs will commence trading on a conditional and deferred settlement basis at 12:00 PM (AEDT) on Tuesday, 23 October 2018.
The letters "CT" will be displayed in the Basis of Quotation field of ASX Trade to facilitate identification of CRN’s shares trading on a conditional basis. Market Participants should note that because no Special Market has been created within ASX Trade, Signal B trade messages will not contain explicit Conditional Trading Basis of Quotation. This information will be identified in the Daily Diary and Reference Point Master List.
CRN is required to advise ASX immediately of the fulfilment or non-fulfilment of the conditions for the conditional market. Notification as to when trading will become unconditional will be made in accordance with the ASX Operating Rules. The market will be advised by ASX market announcement when the conditions of the conditional market have been met and when the stock will commence trading on an unconditional basis. The market will not be purged.
In the case of fulfilment of the conditions, ASX will issue a further Market Announcement to Participants confirming trading arrangements and the date holding statements will be sent to successful applicants. At this stage, the conditions for the conditional market are expected to be met prior to the market opening on Friday, 26 October 2018 and CRN has agreed to send holding statements on Monday, 29 October 2018, and the first settlement date will be Wednesday, 31 October 2018.
Market Announcement 2/3
22 October 2018
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Contract notes for conditional sales and purchases
While it is the Participant’s responsibility to obtain their own advice concerning the appropriate words that should appear on a contract note for a conditional sale or purchase, the endorsement suggested below may be considered for contract notes for conditional transactions in CRN’s CDIs.
"This contract is conditional upon notification being received by ASX by close of business on Tuesday, 6 November 2018 that the conditions for the conditional market have been fulfilled. If the conditions are not fulfilled, this contract shall be cancelled without any liability whatsoever other than for the return of any money paid in connection with the settlement of the contract."
Advice should also be provided to clients to ensure that they understand the full ramifications of Conditional Trading.
Indicative key dates
This timetable has been prepared on the basis that the conditions for the conditional market are expected to be satisfied prior to the market opening on Friday, 26 October 2018. If the conditions are not fulfilled by the close of business on Tuesday, 6 November 2018, CDIs will not be issued and transferred and all conditional trades that have occurred since Tuesday, 23 October 2018 will be cancelled.
If the conditions are not satisfied by Friday, 26 October 2018, but are satisfied prior to the close of business on Tuesday, 6 November 2018, the dates in the timetable will be revised and a new timetable will be released to the market.
| Date | Event |
|---|---|
| Tuesday, 23 October 2018 | CRN admitted to the Official List of ASX |
| Commencement of Official Quotation on a conditional and deferred | |
| settlement basis – 12:00 PM (ASX: CRN) | |
| Thursday, 25 October 2018 | Settlement of the Offer |
| Last day of conditional trading | |
| Friday, 26 October 2018 | Conditions for the conditional market expected to be fulfilled |
| Trading to commence on a deferred settlement basis only (ASX: CRN) | |
| Monday, 29 October 2018 | Holding statements sent to successful applicants |
| First day of trading on a normal (T2) basis (ASX:CRN) |
Instructions
For further details, please refer to the Prospectus.
Need more information?
For further information, please contact Richard Rose at [email protected].
Disclaimer
Please refer to the following disclaimer.
Issued by
Rupa Kapadia
Adviser, Listings Compliance (Sydney)
Market Announcement 3/3
22 October 2018